Studies have shown referrals to be 15 times more likely to do business with you as opposed to cold prospects. So why aren’t you getting more referrals? The answer is to simply ask for it.
In “Registered Representative” magazine, Steve Moeller cites an industry study showing 86% would recommend their broker but only 12% have ever been asked. So why aren’t we asking? Well maybe it’s because we don’t exactly know how to go about it.
A delighted customer is a referring one.
The first step in getting a referral from someone is to make sure they are delighted with your service. Strive to give 100% of your customer base outstanding service. A personal thank you note or small gift is not required, but it is absolutely encouraged.
Get them thinking who they might refer.
Give them an idea of the kind of person you are able to help. You can do this by clearly defining the person or organization who will most benefit from what you offer. If you solve a specific problem state it plainly. Describe your ideal referral and get their wheels turning.
Ask for the referral.
Next, make your request. Simply ask for a referral, and let them know how much it’s valued. Most customers are quick to give you a name or two when they have someone in mind. Prospects will be too if they are clear about what you offer.
Help them out.
If they can’t seem to come up with anyone they can refer, give them some clues. You can ask them if they know any other suppliers, business owners, association members, etc.
Dig a little deeper.
When they give you a name, try to find out more about the referral. Ask that they do, what they struggle with, and where they need help. The better understanding you have of their situation the better you can determine how to help them and the best way to do so.
In “Registered Representative” magazine, Steve Moeller cites an industry study showing 86% would recommend their broker but only 12% have ever been asked. So why aren’t we asking? Well maybe it’s because we don’t exactly know how to go about it.
A delighted customer is a referring one.
The first step in getting a referral from someone is to make sure they are delighted with your service. Strive to give 100% of your customer base outstanding service. A personal thank you note or small gift is not required, but it is absolutely encouraged.
Get them thinking who they might refer.
Give them an idea of the kind of person you are able to help. You can do this by clearly defining the person or organization who will most benefit from what you offer. If you solve a specific problem state it plainly. Describe your ideal referral and get their wheels turning.
Ask for the referral.
Next, make your request. Simply ask for a referral, and let them know how much it’s valued. Most customers are quick to give you a name or two when they have someone in mind. Prospects will be too if they are clear about what you offer.
Help them out.
If they can’t seem to come up with anyone they can refer, give them some clues. You can ask them if they know any other suppliers, business owners, association members, etc.
Dig a little deeper.
When they give you a name, try to find out more about the referral. Ask that they do, what they struggle with, and where they need help. The better understanding you have of their situation the better you can determine how to help them and the best way to do so.
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